Valuation uncertainty risk compensation and IPO prospectus earnings forecasts

Jing Shi*, Chris M. Bilson, John G. Powell

*Corresponding author for this work

Research output: Contribution to journalArticleResearchpeer-review

Abstract

Younger, riskier, less credible firms do not voluntarily supply initial public offering prospectus earnings forecasts. Nondisclosure increases valuation uncertainty risk, thus necessitating higher first-day underpricing and long-run performance as compensation.

Original languageEnglish
Pages (from-to)331-335
Number of pages5
JournalApplied Economics Letters
Volume15
Issue number5
DOIs
Publication statusPublished - 1 Apr 2008
Externally publishedYes

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